Wedge Capital Management L L P NC Sells 2,241 Shares of Worthington Industries, Inc. (NYSE:WOR)

Wedge Capital Management L L P NC lowered its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 28.5% during the third quarter, HoldingsChannel.com reports. The fund owned 5,612 shares of the industrial products company’s stock after selling 2,241 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Worthington Industries were worth $202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WOR. Point72 Asset Management L.P. bought a new stake in Worthington Industries during the second quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Worthington Industries by 17.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,581 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 392 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Worthington Industries by 74.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Worthington Industries during the second quarter valued at $171,000. Finally, Murphy Capital Management Inc. bought a new stake in Worthington Industries during the second quarter valued at $207,000. 45.77% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Jeffrey R. Klingler sold 961 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.46, for a total transaction of $36,960.06. Following the transaction, the insider now owns 5,307 shares in the company, valued at $204,107.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 34.80% of the stock is currently owned by corporate insiders.

WOR has been the topic of a number of research analyst reports. Zacks Investment Research reaffirmed a “sell” rating on shares of Worthington Industries in a research report on Saturday, September 28th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, TheStreet lowered shares of Worthington Industries from a “b-” rating to a “c” rating in a report on Wednesday, September 25th.

Shares of NYSE WOR traded down $0.04 during trading on Friday, hitting $38.95. 100,041 shares of the company traded hands, compared to its average volume of 225,601. The business’s fifty day moving average is $36.33 and its 200 day moving average is $37.34. Worthington Industries, Inc. has a fifty-two week low of $31.42 and a fifty-two week high of $43.52. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.06 and a beta of 1.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.13.

Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.10). Worthington Industries had a net margin of 2.58% and a return on equity of 15.28%. The company had revenue of $855.86 million for the quarter, compared to analyst estimates of $924.00 million. During the same quarter in the prior year, the company posted $0.92 EPS. Worthington Industries’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts predict that Worthington Industries, Inc. will post 2.72 EPS for the current year.

The business also recently disclosed a — dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, December 12th. This represents a dividend yield of 2.7%. Worthington Industries’s dividend payout ratio is currently 34.66%.

About Worthington Industries

Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.

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Institutional Ownership by Quarter for Worthington Industries (NYSE:WOR)

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